Executive Benchmarking

Make well-informed decisions that lead to fair and competitive executive salaries

When it comes to making decisions about executive pay, not only do we need credible and reliable market data, but it’s also important to have the judgement and expertise available to interpret the data correctly.

3R Strategy can provide the data, context and guidance to make well-informed decisions with a clear view of any implications.

executive benchmarking

We make sure your executive pay can stand up to scrutiny and support your organisation’s goals.

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Data points to hand

How it Works

Our first priority is to understand key aspects of principle, governance and structure that provide the starting point for benchmarking.

We typically do this through interviews with the Chairs of the Board and Remuneration Committee, as well as the CEO and the HR Director. We also review recent Committee meeting minutes and benchmarking work. 

Taking into account the roles you’re benchmarking, we find out where you typically recruit from and where your employees tend to go when they leave the organisation.

We will ask for role profiles, job evaluation scores (if available) and other scoping information that will help us identify suitable market references (e.g. budget/headcount responsibility, area(s) of responsibility).

This allows us to source the most relevant market data.

With the market data in place, we produce the benchmarking assessment(s) and relevant contextual commentary for each role.

We then present our findings to different stakeholders as required, including attending a Remuneration Committee meeting to discuss the data and provide input for executive pay decisions. 

Communication

Being clear and open about the purpose and approach to executive benchmarking goes a long way towards people having a proper understanding of benchmarking results and their implications for decisions.

Effective communications will allow you to avoid creating unrealistic expectations about benchmarking and reducing pressure on ad-hoc adjustments to pay driven by market pressures.

We offer different reward communications packages to suit your needs and help communicate your policies and processes clearly and honestly to employees.

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